Focus your property search with these 4 essential tips!
The road to home ownership is long and winding. Finding the home that ticks all your boxes can feel like a real challenge – and at times, impossible! So it’s little wonder home buying hopefuls often turn to our Australian buyers agency for advice before starting their search.
Knowing that the process of buying a home will likely take you on a rollercoaster of emotions, we’ve put together a little guide to help you start your journey with confidence! Here are four tips to help you focus during your property search.
First things first. There are things you need in life, and others you simply want. Think about what you need to ensure your daily routine remains intact. What factors are essential to improving your lifestyle? What is fundamental to yours or your family’s ability to thrive?
For example, do you need to be within walking distance of public transport, schools or work hubs? If you’re someone who wants to live away from the city but needs to commute to the big smoke each day for work, you’ll want to reduce travel time in any way possible. So living within close proximity of your nearest train station is a must. Add it to your list of property requirements if this is the case.
For many of us, lockdowns reminded us that our personal networks are everything. So as you begin your property search, have a good hard think about who you need nearby.
Does mum mind your kids after school during the week? Perhaps your gran wants to visit on the weekends for a cuppa and a cake? Maybe you are responsible for an ageing parent, or have agreed to housesit when your brother travels overseas for his regular work commitments?
Whatever the case may be, considering your personal network is really important. You don’t want to find yourself disconnected from your community in times of need, so even if you do plan to move further away from your network, ensure you have the ability to travel back in times of need with ease.
Now that you’ve established your basic needs, let’s get a little dreamy! If you haven’t yet visualised yourself in a new home, close your eyes and picture it now…
Think about the type of property that both interests you and supports your individual or family needs. While a gorgeous townhouse in a nice complex might feel cosy and sweet upon inspection, a family of five with a dog and a cat may not be the best fit for a property that shares walls with neighbours.
Likewise, a five bedroom home on a rural block of land requiring significant maintenance probably isn’t the best purchase for a retired couple who just want to live ‘the simple life’ and take it easy.
And if you’re a single person who needs access to public transport and wants to be close to amenities such as the pool and the gym, a commercial property buyers agent can help with narrowing down your options. At the end of the day, if you’re planning on staying in your new home long-term, you need to be happy in your choice – and that means holding out for the property that ticks all the boxes.
We all dream of owning that spectacular property that is way out of our budget… but in reality, we have an absolute maximum-stretch budget to consider. So let’s work with that.
When it comes to your finances, a broker will want to know your income, savings, expenses, and look at the resources available to you if you something were to happen that affected your ability to earn an income – such as losing your job.
Every homebuyer is different: some have inherited a large sum following the passing of a family member, others have a share portfolio, while others just have generous parents! Whatever the source of your financial stability is, a broker will need to determine if you have a buffer and what that buffer is.
But before you go with the first property within your maximum-stretch budget, see if you can first find one that is within your preferred budget – with the aim of having money left over.
Finding a home that meets all your needs is definitely possible – even in the current property climate. My advice is to take it back to basics and create a list of your must-haves and your wants. Be honest with yourself and be realistic, only adding properties to your list if they are suitable and meet your reasonable demands.
Whether it’s a house, apartment or townhouse you’re after, our buyers advocate agency can help. Give us a call on (02) 8916 6172 or email our team at firstname.lastname@example.org for more information!